Horseman Capital Management Ltd Sells 16,100 Shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (GNK)

Horseman Capital Management Ltd decreased its position in Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (NYSE:GNK) by 5.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 293,519 shares of the shipping company’s stock after selling 16,100 shares during the quarter. Horseman Capital Management Ltd’s holdings in Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) were worth $3,910,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) by 3.3% in the 4th quarter. BlackRock Inc. now owns 360,245 shares of the shipping company’s stock valued at $4,798,000 after buying an additional 11,399 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) by 62.6% in the 2nd quarter. Vanguard Group Inc. now owns 117,010 shares of the shipping company’s stock valued at $1,108,000 after buying an additional 45,070 shares in the last quarter. Northern Trust Corp grew its stake in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) by 388.0% in the 2nd quarter. Northern Trust Corp now owns 82,303 shares of the shipping company’s stock valued at $779,000 after buying an additional 65,437 shares in the last quarter. State Street Corp bought a new stake in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in the 2nd quarter valued at approximately $582,000. Finally, TIAA CREF Investment Management LLC bought a new stake in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in the 2nd quarter valued at approximately $566,000. 57.14% of the stock is owned by institutional investors and hedge funds.

GNK has been the subject of several recent research reports. ValuEngine cut Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. Evercore ISI initiated coverage on Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in a research note on Monday, November 20th. They issued an “outperform” rating and a $15.00 price target for the company. Jefferies Group started coverage on Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in a research note on Monday, December 18th. They issued a “buy” rating and a $20.00 price target for the company. Zacks Investment Research cut Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. Finally, Noble Financial started coverage on Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in a research report on Friday, January 12th. They set a “buy” rating and a $20.00 target price for the company. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) has an average rating of “Buy” and an average target price of $16.14.

Shares of Genco Shipping & Trading Limited Ordinary Shares New (GNK) opened at $13.83 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 5.23 and a quick ratio of 5.23. Genco Shipping & Trading Limited Ordinary Shares New has a 12-month low of $8.47 and a 12-month high of $15.17.

In other Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) news, major shareholder Cayman Gp Ltd. Ccp II sold 320,462 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $13.11, for a total transaction of $4,201,256.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.30% of the stock is owned by corporate insiders.

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Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) Profile

Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of dry bulk cargoes worldwide. The company, through the ownership and operation of dry bulk carrier vessels, transports iron ores, coal, grains, steel products, and other dry-bulk cargoes. The company charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.

Want to see what other hedge funds are holding GNK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (NYSE:GNK).

Institutional Ownership by Quarter for Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (NYSE:GNK)

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